Short Interest in Evogene Ltd. (NASDAQ:EVGN) Drops By 47.5%

Evogene Ltd. (NASDAQ:EVGN) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 71,600 shares, a decrease of 47.5% from the February 29th total of 136,300 shares. Based on an average daily trading volume, of 195,400 shares, the short-interest ratio is currently 0.4 days.

Evogene Stock Performance

Shares of EVGN stock remained flat at $0.74 on Thursday. 58,664 shares of the stock traded hands, compared to its average volume of 193,536. The company’s 50-day moving average is $0.81 and its 200 day moving average is $0.72. The company has a market cap of $30.51 million, a PE ratio of -1.40 and a beta of 1.50. Evogene has a 52 week low of $0.45 and a 52 week high of $1.44.

Evogene (NASDAQ:EVGN) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $0.58 million during the quarter, compared to the consensus estimate of $1.73 million. Evogene had a negative net margin of 423.39% and a negative return on equity of 76.93%. During the same quarter in the prior year, the company posted ($0.07) earnings per share.

Hedge Funds Weigh In On Evogene

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SNC grew its position in Evogene by 265.4% during the second quarter. BNP Paribas Arbitrage SNC now owns 26,700 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 19,393 shares during the period. Virtu Financial LLC bought a new position in Evogene during the first quarter valued at about $48,000. Vident Investment Advisory LLC grew its position in Evogene by 68.5% during the first quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 34,082 shares during the period. Silverarc Capital Management LLC bought a new position in Evogene during the second quarter valued at about $107,000. Finally, Renaissance Technologies LLC boosted its position in Evogene by 31.8% during the first quarter. Renaissance Technologies LLC now owns 118,193 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 28,493 shares during the period. Institutional investors own 10.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Evogene in a report on Monday, February 5th. They issued a “sell” rating for the company.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.